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Friday, 14 January 2022 09:06

Ford Market Cap Hits $100 Billion for First Time Amid EV Push

Written by Dan Mihalascu, Inside EVs

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Ford Motor Company’s commitment to electric vehicles has pushed its market value above $100 billion for the first time. 

Ford shares rose 2.2% to $25.02 on Jan. 13 in New York, closing just under $100 billion at the end of the day.

 

While the 118-year-old automaker’s market cap exceeds rival General Motors ($88.61 billion) and EV startup Rivian Automotive ($77.8 billion), it is still far from Tesla, which is valued by investors at more than $1 trillion. 

 

Ford’s prospects in the electric age look good as the carmaker is doubling planned production of the electric F-150 Lightning pickup truck to 150,000 vehicles while also increasing Mustang Mach-E production at its plant in Cuautitlan, Mexico.

 

Demand for the F-150 Lightning vastly exceeds supply and Ford had to stop taking reservations for the truck ahead of its arrival this spring at U.S. dealers.

 

“I’m proud the company is getting recognized for our commitment to electrification," Ford CEO Jim Farley told Bloomberg. "The market is saying we like this Ford move into battery-electric and we have more confidence in the delivery of the base business. We like that they’re moving now to scale while others are years away.”

 

Ford shares have been rising spectacularly since Farley became CEO 15 months ago, after falling to a 10-year low under his predecessor, Jim Hackett.

 

Ford’s current boss accelerated...


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